how do i install pyqt4 on OSx in macbook pro

I recently bought macbook pro, and i am facing two problems, 1 i cannot find what is the location of current python on my osx or how to changed default python 2.7 to 2.6.4..

secondly how do i install pyqt4 i hav downloaded from riverbank computing.com..

I would really appreciate if someone can tell me how to get above things sorted out...

System versions of Python are installed to /System/Library/Frameworks/Python.framework/Versions. Versions installed from Python.org are installed to /Library/Frameworks/Python.framework/Versions. If you just want to change the system default, see here.

PyQT should come with build instructions. Check the download.

I think you will be better off using the pre-compiled "minimal" version available here:
PyQtX - Browse Files at SourceForge.net

Get the file -
Download PyQtX from SourceForge.net

And also read this:
PyQtX / Wiki / Home
(not sure if you need to also get basic Qt libs for Mac - sorry)